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Unethical Activity

Gift Return Center, Online Auction

The Gift Return Center was set up by an employee’s proposal. The center returns to the sender-stakeholders the gifts received from
them on Korean traditional holidays together with a return sticker with the intention of cordially returning them at POSCO A&C’s
The center has been operated since Chuseok in 2003 when we declared the ethical standard. Even during normal days, gifts beyond
the socially acceptable level as received from stakeholders can be returned from the Gift Return Center or donated to social organizations.
Among the gifts received at the Gift Return Center, goods whose senders are unclear or those that are difficult to donate to social organizations are collected together and auctioned online within our company. Proceeds obtained from the auction are used as funds for social volunteer service.

Employees’ External Lecture Standard

We implement the Employees External Lecture Standard wherein the lecture fees are used as social volunteer service fund, if employees receive lecture fees from externally lecturing on their business expertise.
The fees received from external lectures using knowledge acquired from business have been combined with the principle of separating public and private affairs – regarding those fees as the company’s asset – and the practice activity of the principle. Operating external lectures according to such procedure has a positive effect on information security as well.
According to the external lecturing standard, our employees do not receive lecture fees considering the publicness and win-win growth of public agencies and stakeholders. Our employees receive lecture fees if the lecture subjects are those for profit or general companies not related to POSCO A&C, and such fees are returned to the company.
If a lecturer designates a recipient agency for donation, the lecture fees are donated to the designated agency. If not, the fees are accumulated as social volunteer service fund through our Social Volunteer Service Office and donated regularly at the company level.

Garland Auction

The company handles the garlands sent by stakeholders as congratulatory token for an employee’s promotion at the beginning of the year according to its ethical standard.
If a notice of sending a garland is received from a stakeholder as congratulatory token on the promotion and assignment to a position is received, the person concerned or our company explains our ethical management policy and dissuades the stakeholder from sending the garland. If a garland is still sent by a stakeholder, we receive it and put it on auction targeting POSCO Family employees and general public by region and connect the proceeds with the social contribution activity fund.
The company has been carrying out the congratulatory garland auction since 2009 and buy rice with the proceeds from the auction for donation to social welfare facilities.

Guidelines for the Reporting of Unethical Activities and Exemption

The company has been operating the Guidelines for the Reporting of Unethical Activities and Exemption enacted in 2007. With regard to the business with our stakeholders like suppliers and clients, the guidelines set forth details for the exemption of the voluntarily reporting person from liability for the unethical activity, payment of reward for the reporting person, and reporting person’s protection.


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